Dublin-based aircraft leasing specialist Avolon and Air New Zealand have signed a memorandum of understanding (MoU) to research the commercialisation of electric aircraft along with battery hybrid and hydrogen-powered aircraft.
The agreement between the two partners also includes the sale and leaseback of Conventional Take-off and Landing (CTOL) BETA Alia CX300 electric cargo aircraft which has been ordered by Air New Zealand and due for delivery next year.
The MoU highlights the desire of both partners to take a leading role in decarbonising the aviation industry and the development of “clean tech” aircraft.
Andy Cronin, CEO, Avolon commented: “Lessors have an important role to play in supporting the commercialisation of clean tech aircraft to help the aviation sector achieve its net zero ambitions. This partnership with Air New Zealand reflects Avolon’s commitment to supporting innovation, building on our investment in Vertical Aerospace and our involvement with Airbus’ ZEROe Project.”
Air New Zealand ordered the BETA Alia CX300 as a technology demonstrator to provide electric cargo services between Wellington and Blenheim in partnership with New Zealand Post.
Richard Thomson, Chief Financial Officer, Air New Zealand commented: “Introducing new technology into the aviation sector is not something any one organisation can do alone. It will require engagement across the board including regulators, maintenance and supply chain, day of operations and financing. With regard to the latter, this partnership with Avolon is another important step in our Next Generation Aircraft programme of work. While only a small trial, it will allow us to understand what the financing of this programme could look like in the future so we’re incredibly grateful for Avolon leaning in and supporting us on our journey.”
Avolon has always been driven to provide modern economic aircraft to airlines and has invested heavily in supplying next-generation aircraft to airlines across the globe.
